After relishing a cocktail of cheap crude mixed with profits from fuel sales, Asia’s oil processors are facing their reckoning over a lack of restraint. Profits from turning crude into fuel in Asia since the beginning of April have averaged almost a third lower than levels over the previous six months, and are down 40 percent from the same period a year earlier. That’s already prompted some […]
}By Arabian Post Staff| Iran plans to set up its own financial center as it seeks to attract global financial institutions, Bloomberg reported. Chinese and Russian banks are seeking to set up representative offices in the area, Farhad Taghizadeh-Hesary, senior adviser to the Qeshm Investment and Development Co., was quoted as sayig in an interview. One of Japan’s largest banks is also negotiating with officials on establishing a […]
Global IP traffic is expected to triple over the next five years, as a result of more than 1 billion new Internet users coming online before 2020, according to Cisco. As many as 10 billion new devices may join the Internet in that time, bringing the total number of connected devices up to 26.3 billion from the 16.3 billion that were connected in 2015. The study is […]
Tech giant Google’s Maps feature lets users find and view the exterior of virtually any building. Are you ready to look inside? Google’s Tango, previously known as Project Tango, aims to map the indoor world just as Google Maps has charted the outdoor world. Tango is meant to help users find everything inside a building, including hallways and offices. What might interest Google and its advertisers even […]
|By Matein Khalid|Dr. Mervyn King broke with tradition by publishing his book “The End of Alchemy: money, banking and the future of the global economy”. After all, retired governors of the Bank of England do not, as a rule, do not write/publish books, let alone write books that lambast the City of London’s culture of greed and hubris. It is no coincidence that Dr. King quotes T.S. […]
FILE PHOTO — A woman looks at her phone as she passes by a Lending Club banner on the facade of the the New York Stock Exchange December 11, 2014. Reuters/Brendan McDermid/File Photo SAN FRANCISCO/NEW YORK (Reuters/IFR) – Many online lenders have failed to detect the “stacking” of multiple loans by borrowers who slip through their automated underwriting systems, lending company executives and investors told Reuters. […]
LEBANON. Byblos Bank issued today the results of the Byblos Bank Real Estate Demand Index for the first quarter of 2016. The results show that the Byblos Bank Real Estate Demand Index posted a monthly average of 42.5 points in the first quarter of 2016, representing a decrease of 12.5% from 48.5 points in the fourth quarter of 2015. The results constitute the ninth steepest quarter-on-quarter decline […]
SAUDI ARABIA. According to a new report by The Boston Consulting Group (BCG), the digital age has ushered in a number of trends that have transformed the media consumption habits of each Saudi generation profoundly – and vastly differently. In parallel, with information and connectivity available at everyone’s fingertips – anywhere, anytime – the Kingdom’s traditional media landscape has, in recent years, been disrupted. The findings presented […]
INTERNATIONAL. A sense of disappointment permeated through the global markets during trading on Monday following last week’s shocking NFP result of 38k that discounted expectations over the Fed raising US rates in Q2. With the number of jobs created falling to its lowest level since 2007, the Dollar was left vulnerable as concerns elevated over a potential economic slowdown in the States. Although the headline unemployment rate […]
|By Arabian Post Staff|The Saudi Arabia Monetary Agency has written to banks instructing them not to under-report Saudi Interbank Offered Rate they’re actually lending at, Bloomberg reported. The decision came after some banks were seen conducting business at higher rates than were quoted, indicating some submissions were below the real market, according to two of the people. SAMA is exerting greater control over Saudi Arabia’s banking sector as […]
Introduced with the release of Google’s Android Marshmallow operating system last year, the Now on Tap feature has just been made a bit smarter. A one-touch tool for accessing information about what’s displayed on a device’s screen, Now on Tap has just been updated to provide users with even more specific details they might find helpful. While reading an article, for example, a user can now select […]
Hewlett Packard Enterprise (HPE) announced a new suite of applications and services yesterday to help businesses comprehensively manage, govern and extract actionable insights from enterprise information. The new suite, called HPE Verity, aims to offer companies a set of tools that are both integrated and modular. The objective of HPE Verity is to address the problem enterprises have trying to manage a wide variety of data types, […]
Saudi Arabia’s sovereign wealth fund made its highest-profile deal, investing $3.5 billion in U.S. ride-share company Uber Technologies Inc. as the country seeks to diversify its assets with more overseas acquisitions. Yasir Alrumayyan, managing director of the Public Investment Fund, will take a board seat at the San Francisco-based company after the deal, which values Uber at $62.5 billion, the company said in a statement. It’s the biggest […]
Mobile subscribers will be less susceptible to exorbitant bills thanks to a directive by the telecoms regulator asking companies to put hard caps on mobile data usage. This week, the Telecommunications Regulatory Authority (TRA) issued a directive ordering Etisalat and du, the country’s sole providers of mobile services, “to put a ceiling, or hard cap, on their respective mobile data bundles in a bid to protect consumers […]
More than 18 months after Apple Pay took the United States by storm, the smartphone giant has made only a small dent in the global payments market, snagged by technical challenges, low consumer take-up and resistance from banks. The service is available in six countries and among a limited range of banks, though in recent weeks Apple has added four banks to its sole Singapore partner American Express; […]
The company logo is shown at the headquarters of Oracle Corporation in Redwood City, California, February 2, 2010. Reuters/Robert Galbraith/Files Oracle Corp was sued on Wednesday by a former senior finance manager who claimed she was terminated in retaliation for complaining about improper accounting practices in Oracle’s cloud services business. Shares of Oracle fell about 2.6 percent to $39.23 in after-hours trading. In a complaint filed in […]
In all my long days as an automotive writer, not one single car manufacturer has asked me to attend their display at an international motor show, and drape myself alluringly across the hood of one of their vehicles. Sex Sells When people (in truth, men) discovered sex sells, car makers jumped on the band wagon. They found that a seductive model adjacent to the product seemed to […]
Experts say they found more than 400 wooden tablets during excavations Image Credit: AFP Archaeologist Luisa Duarte poses for a picture holding a Roman waxed writing tablet containing the earliest written reference to London, dated AD 65/70-80, which translated reads ‘Londinio Mogontio’ (in London, to Mogontius…), at Bloomberg’s offices in central London. The tablets were found during excavation for financial news agency […]
The Chevrolet Spark is designed for city dwellers who are looking for a small car that packs all the connectivity features of the big cars, but don’t require the horsepower or the proportions of a bigger vehicle. For 2016, the all-new Spark packs 17% more power than the first-generation model, so the power output increases from a measly 84 horsepower to a more acceptable 98 horsepower. What’s […]
Minivans have gotten a bad rap for a long time, but if you haven’t looked at one recently you are in for a surprise. Toyota builds the Sienna minivan which is attractive on the outside and roomy on the inside. Did we really say attractive? The new Sienna isn’t your typical box on wheels that distinguished the model for so long. It has sleek styling that sets […]
A lawsuit filed last week in U.S. District Court in California has alleged that Apple, Broadcom and Avago Technologies, a Broadcom subsidiary, have infringed on several Wi-Fi-related patents held by the California Institute of Technology (Caltech). Filed Thursday in the Central District of California, the complaint claimed that the companies are wrongfully using intellectual property protected by four U.S. patents awarded to Caltech between 2006 and 2012. […]
|Arabian Post Staff| Banks in Saudi Arabia are coming under fresh pressure over products that allow speculators to bet against the kingdom’s currency peg, Bloomberg reports quoting people with knowledge of the matter. Bloomberg said the Saudi Arabia Monetary Agency has asked lenders to explain why they are offering dollar-riyal forward structured products to customers less than four months after the regulator banned options contracts that let […]
By NICOLA CLARK May 27, 2016 PARIS — A French naval vessel fitted with sophisticated underwater sensors raced on Friday toward the eastern Mediterranean Sea, as the window for locating the so-called black boxes of a downed Egyptian airliner rapidly closed. The ship is expected to arrive in the search zone early next week to help locate and recover the EgyptAir jet’s cockpit voice and data recorders. The recorders, […]
This summer, Acer will begin releasing a number of new devices aimed at different types of users, including a new series of notebooks for business users and two new 2-in-1s for students and budget-conscious buyers. Taiwan-based Acer plans to showcase its latest releases at next week’s Computex expo in Taipei. It also plans to unveil its BeingWare vision for smart city and Internet of Things (IoT) applications. […]
